Managers of Wealth Africa

Ramaphosa and Mboweni push for new state bank in South Africa

The Land Bank is a state bank. The IDC (Industrial Development Corporation), if you like, is a state bank. Many developing countries have a number of state banks.”

S. Africa proposes new rules to boost economy

The changes should make it easier for retirement funds to invest in infrastructure and allow for better measurement of investment in projects, the Treasury said in a statement.

Mauritius: JICA provides $289 million support to fight COVID-19 under initiative with African Development Bank

The loan is a parallel co-financing agreement between JICA and the African Development Bank under the Enhanced Private Sector Assistance for Africa joint initiative to spur private

BoG launches Sandbox pilot

The bank and the innovator are able to assess the usefulness, viability and safety of innovations through shared understanding of their respective interests.

Will South Africa pass a wealth tax to cover the covid bill?

HNWs already ‘fed up’ with current taxation system and ‘leaving the country in droves’

CBN, SEC anchor cryptocurrency ban on financial system protection

Prior to the CBN directive, he said, the SEC had in 2017 cautioned the public on the risks involved in investing in digital and cryptocurrency.

Analysing Financial Accountability Trends at FMBN

The perennial breach of financial rules, which are designed to foster public trust in the handling of public funds, by government agencies is a serious and worrisome practice that deserves concerted efforts by all relevant stakeholders to tackle.

CRB freeze halves digital lenders Sh2bn monthly loans

The association said an estimated six million customers borrow an average of Sh4,000 for a period of 30 days.

$2,350 set as minimum for banks to seek more client info in Seychelles

From there, we have met with commercial banks to look at the issue.

SEC urges mentoring to sustain sound banking

The SEC boss stated that to be a successful professional, one must be ambitious, willing to go the extra mile, try to be a value enhancer and must be outstanding.

Sudan Central Bank Devalues the Currency to Revive Economy

The move essentially aims to stamp out a black market and control currency volatility in a nation with a foreign debt load of around $60 billion.

2020 might not be a good time to launch a state bank

In 2019, Parliament passed legislation allowing state businesses to apply for banking licenses.

FOCUS: Corruption, conviction and red flags

The case involved two breaches of the 2008 Money Laundering Order

Parliament advisory warns over digital loans

These loans typically solve short-term liquidity problems in households and small businesses but are not significant enough to facilitate long-term investments amongst borrowers.

African Academics join forces to investigate African narratives under new fellowship program

The African fellows, who are based both on the continent and in the diaspora, will conduct research across more than 15 African countries.

AfDB bans Kenyan company over fraud

The debarment renders the company and its affiliates ineligible to participate in AfDB-financed projects during the three-year period.

Kenya to raise debt ceiling again as headroom reduces

“The formulation of this strategy has been on a background of public debt stock fast approaching the statutory ceiling of Sh9 trillion set out in the Public Finance Management Act, 2012,” Treasury officials wrote in the debt strategy paper fo

African Development Bank debars Global Interjapan (Kenya) Limited for 36 months for fraudulent practices

Global Interjapan (Kenya) Limited engaged in fraudulent practices during a tender for the Bank-financed Small Scale Irrigation and Value Addition Project in Kenya

Challenges in the LIBOR transition phase: ISDA fallback interest rates for transactions linked to bonds or loans

Parties may additionally elect to include certain non-ISDA documents as Protocol Covered Documents

How credit bureaus are breaking the pot to kill a snake

According to the regulator, Central Bank of Kenya CRBs, “seek to enhance consumer protection for borrowers, expand the sources of information and ensure the sustainability of the credit information sharing as a key tool to bridge the information gap

Regulation,Tax & Compliance